IronVest raises $23 million Seed round to protect personal online security and privacy through biometrics
IronVest raises $23 million Seed round to protect personal online security and privacy through biometrics
The Israeli company’s solution uses decentralized biometric fraud prevention technology to ensure only the correct person can access the most sensitive accounts and data during sign-in and throughout a session
IronVest, which has developed a biometric account-access security that protects personal accounts and personal data from fraud, has announced the close of a $23 million Seed funding round led by Accomplice, with participation from Trust Ventures, Ulysses, Joule Ventures, OurCrowd and a number of strategic angel investors.
While most cybersecurity solutions concentrate on infrastructure and endpoints, IronVest focuses on protecting the individual. Its security-first approach uses a decentralized infrastructure to protect personal data and uses decentralized biometric fraud prevention technology to ensure only the correct person can access the most sensitive accounts and data during sign-in and throughout a session.
The platform protects users’ personally identifiable information by offering on-the-fly use of masked email addresses, virtual phone numbers and virtual credit cards to protect user privacy and reduce the personal data footprint vulnerable to data breaches.
IronVest is available as a mobile app, a browser extension and via an enterprise software development kit, and protects digital accounts across the spectrum of banking, investing, email and health records, with more than 200,000 users already using the app.
IronVest co-founder and CEO Avi Turgeman was previously founder and chief technology officer of BioCatch, the market-leader in behavioral biometric fraud detection. Turgeman joins fellow co-founders, Chief Technology Officer Kfir Yeshayahu, Chief Marketing Officer Guy Bauman and Vice President of Product Yaron Dror. Turgeman and Yeshayahu originally met and worked together in the Israeli military’s elite 8200 intelligence unit. Prior to launching IronVest, Turgeman, Bauman and Dror were founding team members at the mobile-commerce startup platform Tapingo, which Grubhub acquired in 2018.
“Building a security and privacy-first infrastructure that leverages decentralized biometric authentication and anonymized PII to combat rising cyberattacks and digital threats while actually reducing friction and improving the user experience for users is at the core of our mission,” said Avi Turgeman, IronVest co-founder and CEO. “I've spent my entire professional life designing biometric fraud detection systems for the world's largest financial institutions. At IronVest, we are moving beyond fraud detection and are focused on empowering individuals to get 360-degree protection from all types of fraud without relying on the online services they are using to do this for them.”
First published: 21:30, 13.10.22
